In Coca-Cola’s quarterly earning reports for the first quarter of 2021, the beverage giant said sales reached levels not seen since the Covid-19 pandemic started last year. Expected revenue was predicted to be $8.6 billion while actual revenue topped $9.02 billion and first quarter net income of $2.25 billion or 52 cents per share reflecting a 5% rise in sales.
While Coca-Cola’s hydration, sports, coffee and tea segment saw the worse decline by 11% as the world continued to have minimal excursions outside the home, traditional Coke and other sweetened beverages saw a significant increase as more places began opening up. “It’s a sign that the economy is opening up and people are getting back to their normal lives again” said Sheryl Alderman, a financial analyst with Regions Bank. “As more vaccines become available and as more people get the vaccine, there is a corresponding rise in economic activity in each area as governments end lockdowns, we can see this right down to the metro area level.”
Sales in North American and Europe were slower compared to sales in South American, Asian and Africa.